Euro zone remains a source of confusion for UK travelers

Tuesday, September 3rd, 2013. Filed under: Destinations Home & Garden World News
One in ten UK tourists picked the wrong currency when exchanging money for a trip to a European destination. ©FuzzNails/shutterstock.com

One in ten UK tourists picked the wrong currency when exchanging money for a trip to a European destination.
©FuzzNails/shutterstock.com

(Relaxnews) – Not all of the European Union’s 28 member states have adopted the common currency, making things a little more complicated for tourists traveling to the continent.

One in ten Britons admits to having exchanged their pounds sterling for the wrong currency before a trip to a European destination, a new study from International Currency Exchange Plc (ICE) reveals. While many travelers assume that the 28 EU member states have all adopted the euro, 11 of them still use only their local currency, providing ample room for confusion.

ICE, who commissioned the survey of 2,000 travelers during the month of August, encourages tourists to confirm the currency of their destination country before departure. In some cases, ICE notes, the local economy may operate with two different currencies.

Croatia, for example, which recently joined the EU, hopes to replace its local currency with the euro within the next four to five years. Starting this summer, consumers in the country may pay for goods and services in kuna or in euros.

Another detail to keep in mind: Latvia, Lithuania and Denmark are participants in the ERM 2 program (Exchange Rate Mechanism 2), meaning that the value of the Latvian lats, the Lithuanian litas and the Danish kroner are linked to that of the euro. Latvia is on track to adopt the euro starting in 2014.

The Czech Republic, Poland, Hungary, Romania, Sweden and Bulgaria are still awaiting approval from the European Central Bank before they can join the euro zone.

The UK and Denmark, on the other hand, have both made a conscious decision to maintain their traditional currency.

ab/ls/lwt

Related posts

Spending the night in a cemetery and other strange New Year’s customsLonely Planet releases its picks for the top destinations in 2015Myanmar targets 5 million tourists with e-visaLunch-hour dance parties being held around the world May 6Istanbul bumps Paris to become top 2014 destination: TripAdvisorThe country deemed to have the healthiest eating habits may surprise youElon Musk: a man on a missionHeathrow to give away T-shirts celebrating royal babyMost expensive and affordable travel destinations this summerFor mystic life and a spiritual tune-up, go to BrasiliaUS wine exports hit record $1.4 bn in 2012Chinese guests prefer Hyatt and Marriott hotels while Japanese favor Ritz-CarltonCan Japan overtake the US as the place to test autonomous driving tech?Why 2016 is being called ‘The Year of the American Traveler’British Airways and Barcelona win big at NatGeo Traveller UK reader awardsSingapore to offer world’s first online-to-offline shopping mallDomino’s Pizza opens first store in ItalyGoogle testing out food porn feature for MapsChicago named best pizza city in the US: TripAdvisorUber launches ice cream delivery service for one day only